- Belararox (BRX) begins trading on the ASX under the ticker code BRX
- This listing follows the company’s successful initial public offering (IPO) which raised $5.06 million through the issue of 43 million shares priced at 20 cents
- Belararox is a mineral explorer with a focus on high demand base and precious metals that are essential for developing clean energy
- It has the Belara zinc-copper-lead-silver-gold project in the Lachlan Fold Belt in NSW and the Bullabulling gold-nickel project in Coolgardie, Western Australia
- On its first day of trade, shares in Belararox rose 5 per cent to 21 cents
Belararox (BRX) has begun trading on the ASX under the ticker code BRX.
This listing follows the company’s successful initial public offering (IPO) which raised $5.06 million through the issue of 43 million shares priced at 20 cents.
This represents a pre-listing market cap of roughly $8.6 million and a low enterprise value of around $4 million.
Belararox is a mineral explorer with a focus on high demand base and precious metals that are essential for developing clean energy.
It has the Belara zinc-copper-lead-silver-gold project in the Lachlan Fold Belt in NSW and the Bullabulling gold-nickel project in Coolgardie, Western Australia.
In Q1, Belararox will begin geophysics work and drilling at Belara to drill out the known Belara resource with the first JORC-compliant result expected by the middle of the year.
Belararox’s management team consists of Neil Warburton as Non-Executive Chair, Arvind Misra as Managing Director, Dr Greg Partington as Chief Technical Officer and Michelle Stokes and Stephen Lowe as Non-Executive Directors.
“Our ability to achieve this fantastic result speaks to the outstanding growth potential inherent in our assets, the exceptional work our team has done to date,” Mr Misra said.
“Belararox is well-funded to quickly execute its strategy to explore for metals critical to the energy transition as well as gold.”
“We are in the enviable position of having two very strong assets and expect to deliver consistent positive news flow, with the geophysical surveys starting immediately and drilling to commence imminently.
On its first day of trade, shares in Belararox rose 5 per cent to 21 cents.